Winton Lease Extensions: Q and A’s

  • I have an interest in the freehold of buildings comprising of seven flats each. 2 of the leasehold owners want a lease extension and I'm enquiring about the the process
  • We have seen a house for sale for £195k and we are very interested but we've just found out that it is leasehold. There are 798 years outstanding so a lease extension is not an issue. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this true? We wouldn't want to pay a mortgage for 25 years without the house being ours. Any feedback would be much appreciated.
  • This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
  • The intention is to sell our two bedroom second floor purpose built maisonette in Winton but we may need a lease extension, or possibly cover the expense of our purchaser. Are you able to help me find someone to undertake the legal formalities?
  • I'm deliberating over buying a one bedroom apartment (leasehold) but the freeholder has been missing for nearon 15yrs. I wonder whether it will be cheaper to try to purchase the freehold or to extend lease and apply for right to manage?
  • I am looking at acquiring an auction property and identified a studio flat in Winton. It only has a 50 year lease..the current owner as mortgagees in possession dont want to mess around with applying for a lease extension..what are the disadvantages of this other than the huge fee to extend the lease and decreased chance of obtaining a mortgage with Skipton Building Society?
  • Ref a property in Winton. upper maisonette. fivety four yrs remaining. I have negotiated a lease extension price of £12,000 for 135yrs. Landlord also requested Initial Notice which I think is a tad over the top. Advice required.
  • I am currently in the process of refinancing my maisonette in Winton and the mortgage company that I am looking to switch to needs at least 85 years remaining on the lease in order for them to progress matters. I have found that I currently have around seventy four years on the leasehold so require some help, guidance, and some quotes to get the wheels in motion for a lease extension
  • I was hoping you might be able to tell me the process of how to apply for a lease extension for my three bed flat in Winton
  • We have a one bed flat in Winton with a lease of sixety one years left with a value of around £290000 we want to add 90 years to it, how much is that likely to cost?

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